B
bevsim
Guest
We haven't gone to court yet, but we're getting ready to anyday now.
Four partners who fell out over disagreements a year ago. Two of the partners literally walked off with the business and locked out the other two partners. 50-50 standoff.
Most recently one of the partners (25% shareholder) enforced a judgement for 7,000 dollars against the corporation and just transferred all the assets to another one of his corporations. He did this without any legal documentation, just his own will.
In other words, he took a corporation that was worth over 200,000 in assets and decided the assets would be his for the 7,000 owed him in judgement.
We tried an emergency injunction, and it was denied by the judge....saying that if he did this he'll just have to transfer them back!
The State is Pa, and my question is this...
What constitues criminal fraud and will he ultimately be personally responsible for this in the end?
Four partners who fell out over disagreements a year ago. Two of the partners literally walked off with the business and locked out the other two partners. 50-50 standoff.
Most recently one of the partners (25% shareholder) enforced a judgement for 7,000 dollars against the corporation and just transferred all the assets to another one of his corporations. He did this without any legal documentation, just his own will.
In other words, he took a corporation that was worth over 200,000 in assets and decided the assets would be his for the 7,000 owed him in judgement.
We tried an emergency injunction, and it was denied by the judge....saying that if he did this he'll just have to transfer them back!
The State is Pa, and my question is this...
What constitues criminal fraud and will he ultimately be personally responsible for this in the end?